• Sat. May 21st, 2022

Payments-focused altcoin skyrockets 59% in a single day as Bitcoin and Ethereum seek help

ByHazel R. Lang

Apr 11, 2022

As Bitcoin (BTC), Ethereum (ETH) and the broader crypto markets undergo a significant downward correction, an altcoin is defying the trend with big rallies.

At the time of writing, the banking and payments-focused altcoin project MinePlex (PLEX) is up 59% in the last 24 hours and 119% in the last 30 days.

MinePlex is a mobile digital bank intended to give users the ability to use crypto and fiat for payments, banking and transfers.

Its ecosystem so far consists of four main components, including its payment system MinePlex.Money, business development platform MinePlex.Payment, online store MinePlex.Marketplace and its new digital banking application called MinePlex.Finance.

MinePlex.Finance launched last week and, according to a press release, is a service that aims to link PLEX tokens to major fiat currencies.

“MinePlex.Finance is independent of the MinePlex platform, although it requires the use of the project’s own PLEX tokens in order to use it. It is an advanced solution that can be used as a digital account, payment app or mobile wallet for PLEX tokens and fiat prime.

Following the launch of the new app, PLEX experienced a trend reversal from the $1.00 mark to $1.10 on the daily close. It then hit the $2.00 level less than six days later and, at the time of writing, has retained most of its gains. It is currently trading for $1.97.

In the same time frame, Bitcoin (BTC) is down around 12% while Ethereum (ETH) is trading 14% lower than last week.

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Featured Image: Shutterstock/Rakesh khisa/Nikelser Kate



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